24th Oct 2019 11:50
(Alliance News) - Feedback PLC on Thursday reported a widened loss on increased staff investments and said that it continues to develop its medical technology product range.
In the year ended May 31, Feedback generated revenue of GBP563,092, up 23% year-on-year from GBP458,389.
The medical technology firm's pretax loss widened to GBP1.1 million from GBP750,000. Feedback said administrative costs rose by 42% year-on-year to GBP1.7 million from GBP1.2 million.
Chief Executive Tom Oakley said: "This has been a transformational year for Feedback and we believe that we have the technology and strategy to make a meaningful change in the medical imaging and communications market.
Feedback has been developing its Bleepa product, a medical communications application accessible on smartphones. In August, the company secured GBP2.0 million through a placing in order to fund development of the platform.
Last Thursday, Feedback said it was in talks with the UK's National Health Service after Bleepa was well received at a September healthcare exhibition.
Oakley added: "Following successful fundraises, we are well positioned to continue to build our team and capabilities to support the roll-out of Bleepa, both in the UK and further afield. We look forward to driving further future growth from this significant opportunity."
Shares in Feedback were down 3.8% at 1.23 pence each in London on Thursday morning.
By Eric Cunha; [email protected]
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